Opening Ceremony for Open Innovation Center 2.0,

Where Dreams Come True through New Ideas

• 'Open Innovation Center 2.0,' a space to commercialize idea assets in the fields of science, technology, and humanities, is now open

On May 24 (Mon), the opening ceremony for Open Innovation Center 2.0 was held at Ladder Lab on the 7th floor of Berchmans Woojung Hall.

Open Innovation Center 2.0 is a space for refining business items at the idea stage so that companies and Sogang University can cooperate to commercialize them. This center will be used as a forward base for new business development by converging and advancing the next-generation business ideas of members of the Sogang family and all assets across the university's science, technology, humanities, and social fields. The space will inherit Ladder Lab, which was opened in 2014 as part of the Leaders in INdustry-university Cooperation (LINC) project supported by the Ministry of Education and National Research Foundation of Korea, but it goes beyond the simple industry-university collaboration model, such as providing technology transfers, by supporting the entire cycle from idea commercialization to financing and marketing. This shift is meaningful in that it aims to promote mutual growth through collaboration between corporate business ideas and the university's technical labor force.

About 40 people attended the opening ceremony, including President Sim Jong-hyeok, Executive Vice President Song Tai-kyong of Academic Affairs, Executive Vice President Kim Soon-kee of Research & External Affairs, and other executive officers from the headquarters, as well as the CEOs of companies that graduated from Ladder Lab or are planning to move in, along with Smilegate Investment staff.

The event, hosted by Director Cheong Hyeonsik of the Sogang University Research & Business Development Foundation (SUR&BDF), was held in the order of 'opening and introduction of guests, congratulatory remarks from the president, introduction of the Open Innovation Center and announcement of operation plans, briefing of companies scheduled to move in, group photograph, and closing.'

▲ President Sim Jong-hyeok delivering congratulatory remarks at the opening ceremony

Leading off the event, President Sim explained the meaning of the Ladder Lab space through his congratulatory remarks, stating, "Until now, this space called 'Ladder Lab' has been a place where 'business' ideas were 'groomed' and 'reformed' in connection with users' dreams. I hope that this center can now be reborn as a space where dreams can come true based on potential startup technologies from professors and fresh ideas from graduate students."

• Full support from the first stage of business planning to the stage of realizing sales

Next, Vice Director Lee Kyootai of SUR&BDF, introduced the meaning of Open Innovation Center 2.0, the center's method of operation and support, operation period and stages, and future development plans.

▲ Vice Director Lee Kyootai of SUR&BDF announces Open Innovation Center 2.0's operation plan

Vice Director Lee said, "Open Innovation Center 2.0 will not only support commercialization for university-industry collaborated technologies but will also support businesses in various ways, such as commercialization through discovering promising technologies in the laboratory, support for the development of prototypes by the laboratory startup teams, and connections with SUR&BDF's Sogang BRIDGE+ project." He then added, "From the first stage of planning and preparing for commercialization in the Ladder Lab space, which starts with selecting a team with good ideas and skills, all the way up to the stage of realizing sales, through continuous support, I hope we can achieve a virtuous cycle of nurturing companies and creating profits for the school at the same time."

Meanwhile, companies that move into Open Innovation Center 2.0 spend their first 9 to 12 months in the commercialization planning and preparation period, taking advantage of various commercialization programs, such as prototype production, business model design, and investment-linked consulting, which are all supported in the promotion of corporate growth. If necessary, these companies can receive advice on commercialization through the Mini-MOT process with various experts from the school. If technology commercialization fails, the center provides a stepping stone for further attempts, where they can analyze the cause of failure and review business ideas through the 'Innovation Shelter.' In this way, the Graduate School of MOT (Management of Technology), SUR&BDF, and Smilegate Investment will fully support the needs ranging from the first stage of startup to the stage of stable growth to realize profits.

▲ New Business Creation Platform of Open Innovation Center 2.0

As a reliable growth partner for investment companies, Smilegate Investment's Management Division Deputy General Manager Yoon Heewook, who has been part of the process from the very beginning of its foundation right up to its IPO, attended the event and said, "I hope that we will continue to maintain a cooperative relationship with Sogang University and produce favorable results."

Finally, there was an opportunity for the introduction of representative companies scheduled to move into Open Innovation Center 2.0 and graduates of Open Innovation Center 1.0. The companies expected to move in, which are CHAEDI (CEO Jung Han-wook), WeINTERACT (CEO Kim Insu), and the Sogang Electronic Engineering Lab Startup Team (Professors Kim Hongseok and Kim Younglok), and the graduate companies of Geniewoos Inc. (CEO Lee Tae Hyung) and ‎K-TheBom (Han Jae-hyung) took turns introducing their major services and technologies. Han Jae-hyung, CEO of ‎K-TheBom, presented the company's current growth outlook and expressed his gratitude to Sogang University for boasting such high-level venture-incubation capabilities. After successful commercialization by continuously researching and developing customized communication and collaborative social platforms, ‎K-TheBom was acquired by K-WON C&C CO., LTD. at the end of last year.

▲ (From left) Deputy General Manager Yoon Heewook of Smilegate Investment's Management Division and CEO Han Jae-hyung of ‎K-TheBom

At the end of the event, Director Cheong Hyeonsik of SUR&BDF, said, "We will unsparingly support Open Innovation Center 2.0 as a platform for creating new businesses based on science and technology by combining new industry-oriented startup technologies directly related to the 4th industrial revolution."

▲ Open Innovation Center 2.0 Opening Ceremony Photo (May 24)